You have an investment opportunity that promises to pay you $12,979 in four years. Suppose the opportunity requires you to invest $9,540 today. What is the interest rate you would earn on this investment? Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Enter your answer rounded to the nearest whole percentage. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Solve for i Present Value: n = i = Future Value:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You have an investment opportunity that promises to pay you $12,979 in four years. Suppose the opportunity requires you to invest
$9,540 today.
What is the interest rate you would earn on this investment?
Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Enter your answer rounded to the nearest
whole percentage. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Solve for i
Present Value:
n =
i =
Future Value:
Transcribed Image Text:You have an investment opportunity that promises to pay you $12,979 in four years. Suppose the opportunity requires you to invest $9,540 today. What is the interest rate you would earn on this investment? Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Enter your answer rounded to the nearest whole percentage. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Solve for i Present Value: n = i = Future Value:
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